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Stock Market & Financial Investment News

News For BCS;TRV;FMER;WFC;MMC;ZION From The Last 14 Days
Check below for free stories on BCS;TRV;FMER;WFC;MMC;ZION the last two weeks.
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September 10, 2014
07:29 EDTWFCWells Fargo sees Q3 mortgage originations in line with Q2
Wells Fargo said it expects Q3 mortgage originations to be in line with Q2, while gain on sale margin is expected to remain within the range of the last four quarters. The bank expects to operate within its targeted efficiency ratio range of 55%-59% in Q3.Wells Fargo said it continues to be well positioned relative to liquidity LCR standards and while there is potential for continued NIM pressure, the bank's focus remains on growing net interest income over time. Wells noted that it continues to expect future reserve releases absent significant deterioration in the economy, but expect a lower level of future releases as the rate of credit improvement slows and the loan portfolio continues to grow. Information from slides for CFO John Shrewsberry's presentation at the Barclays Global Financial Services conference.
07:16 EDTWFCRepublicans, Democrats both push for harder 'too big to fail' rules, WSJ says
Lawmakers from both the Republican and Democrat sides of the aisle urged U.S. regulators to push forward additional regulations to ensure the biggest banks aren't "too big to fail," said The Wall Street Journal. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:35 EDTWFCFed may raise capital requirement for some banks to 11.5%, NY Times reports
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06:20 EDTBCSBarclays hires BofA Merrill Lynch's Richard Casavechia, FT reports
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September 9, 2014
17:44 EDTWFCWells Fargo confirms Apple Pay available to customers
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14:54 EDTWFCApple announces Apple Pay
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11:59 EDTBCSBarclays narrows bidders for index unit to Markit, S&P, Reuters says
Barclays (BCS) has narrowed the list of bidders for its Index, Portfolio and Risk Solutions business, which could fetch more than $1B, to Markit (MRKT) and McGraw Hill Financial's (MHFI) Standard & Poor's unit, according to Reuters, citing people familiar with the matter. MSCI (MSCI) and privately-held Bloomberg had also expressed interest, according to the report. Reference Link
10:10 EDTBCSOn the Fly: Analyst Upgrade Summary
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07:29 EDTWFCUBM Canon to hold a summit
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07:11 EDTWFCUBM Tech to hold a conference
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06:33 EDTWFCFed looks set to pressure large banks to shrink, NY Times says
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06:32 EDTWFCFed to require large US banks to have extra financial padding, WSJ reports
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05:26 EDTBCSBarclays upgraded to Overweight from Neutral at HSBC
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September 8, 2014
13:32 EDTBCSBarclays exec says 2,700 jobs eliminated so far this year, Reuters says
Barclays investment bank CEO Tom King said that the company has reduced its staff members by 2,700 so far this year in an effort to comply with its plan to cut 7K positions through 2017, according to Reuters, citing comments from King. Reference Link
07:24 EDTWFC, FMERBarclays to hold a conference
Global Financial Services Conference to be held in New York on September 8-10.
September 5, 2014
07:18 EDTBCSRegulators drafting flexible 'bail in' bond deal for large banks, Reuters says
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06:23 EDTBCSBarclays to launch biometric fingre vein readers for clients, FT reports
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06:22 EDTBCSUBS, Barclays postpone hiring due to stricter background checks, Bloomberg says
UBS (UBS) and Barclays (BCS) have decreased their job opportunities and postponed start dates in response to some banks strengthening background examinations, after past offenses increased the need for more investigative research on the behavior of individuals, according to Bloomberg, citing three people with knowledge of the situation. Reference Link
September 4, 2014
06:40 EDTWFCAgencies finalize liquidity rule for large banks
The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency finalized a rule yesterday that they said would strengthen the liquidity positions of large financial institutions. The rule will for the first time create a standardized minimum liquidity requirement for large and internationally active banking organizations., according to the agencies. Each institution will be required to hold high quality, liquid assets, or HQLA, such as central bank reserves and government and corporate debt that can be converted easily and quickly into cash in an amount equal to or greater than its projected cash outflows minus its projected cash inflows during a 30-day stress period, the agencies explained. The ratio of the firm’s liquid assets to its projected net cash outflow is its “liquidity coverage ratio,” or LCR, they said. The LCR will apply to all banking organizations with $250B or more in total consolidated assets or $10B or more in on-balance sheet foreign exposure and to these banking organizations’ subsidiary depository institutions that have assets of $10B or more, the agencies reported. The rule also will apply a less stringent, modified LCR to bank holding companies and savings and loan holding companies that do not meet these thresholds, but have $50B or more in total assets. Bank holding companies and savings and loan holding companies with substantial insurance or commercial operations are not covered by the final rule. The final rule is largely identical to the proposed rule, with a few key adjustments in response to comments from the public, the agencies stated. Those adjustments include changes to the range of corporate debt and equity securities included in HQLA, a phasing-in of daily calculation requirements, a revised approach to address maturity mismatch during a 30-day period, and changes in the stress period, calculation frequency, and implementation timeline for the bank holding companies and savings and loan companies subject to the modified LCR. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
06:13 EDTWFCWells Fargo implied volatility of 12 at lower end of index mean range
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